What are the expected price and market conditions for Niagara’s housing market in 2025? Buyers and sellers alike are wondering how the new year will shape the local real estate landscape. With shifting inventory levels, price changes, and evolving demand, here’s what you need to know about the Niagara North market right now.
For Buyers: A Buyer’s Market Emerges
- High Inventory, Low Sales: The months of supply rose above 7 months, the highest start to the year since 2011. With 230 units available and only 32 sales, buyers have more negotiating power.
- Lower Prices: The unadjusted benchmark price dropped to $748,700, down over 2% compared to last year.
- Detached Homes in Focus: Detached homes dominate the market, with an average price of $1,065,095. It’s a great time for buyers looking for larger properties.
For Sellers: Pricing Strategically is Crucial
- Market Adjustments: Sales fell by 51.5% compared to last January, with apartments seeing the steepest decline.
- Long Days on Market: The average days on market increased to 54.3 days, requiring sellers to be patient and realistic with pricing.
- Regional Focus:
Grimsby: Average price of $933,875, with 7 months of supply.
West Lincoln: More stable, with just over 3 months of supply.
Lincoln: Highest price growth, with an average price of $1,210,000.
Interesting Facts about Niagara North
- Niagara North is home to Grimsby’s wine country and scenic waterfronts, offering a mix of small-town charm and modern amenities.
- West Lincoln is known for its strong agricultural roots and growing family-oriented communities.
- Lincoln boasts a rich history and a vibrant arts scene, making it a cultural hub in the region.
Looking Ahead
With rising supply and stabilizing prices, Niagara North presents opportunities for buyers and strategic options for sellers. Staying informed on these trends will help you make the best decisions in 2025.
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